Russian Financial Control Monitor
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MOSCOW. Bank Vozrozhdenie will provide RUR500mn ($15.5mn, or €11.6mn) worth of loans to the subsidiaries of Pava, one of the largest grain processing companies in Russia, for a year, the company’s press service said.
Notably, the Rebrikha grain processing plant will borrow RUR300mn and the Mikhailovsky grain processing plant, RUR200mn. Pava and its two other subsidiaries – deep wheat processing project Greinvest and animal feed producer Ceres Group – will act as guarantors.
The loan agreement was signed on September 11. The money is to be repaid on September 10, 2014. The interest rate is not disclosed. |
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